Budget 2015- Forwards Markets Commission to be Merged with Sebi

The Union Finance Minister Shri Arun Jaitley has proposed to merge the Forwards Markets Commission with SEBI to strengthen regulation of commodity forward markets and reduce wild speculation. Enabling legislation, amending the Government Securities Act and the RBI Act is proposed in the Finance Bill, 2015.

It has also been proposed to amend through the Finance Bill, Section 6 of FEMA to provide that control on capital flows as equity will be exercised by the Government, in consultation with the RBI. (Source- PIB-Press Released Dated- 28.02.2015)